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Updated: 48 min 9 sec ago

Marriott sued for $12.5bn in data breach case

3 December, 2018 - 10:47
A class-action lawsuit seeking $12.5 billion, or $25 for each customer whose privacy may have been jeopardized, has been filed against Marriott after the hotel chain revealed a data breach affecting 500 million customers of its Starwood hotels, according to a Dec. 1, 2018 report by The Oregonian.

US insurers retain coal support

3 December, 2018 - 10:41
While most of the leading European insurers have by now taken action on coal, none of the nine US insurers assessed have taken any steps, according to the Unfriend Coal campaign.

Gallagher expands in Indonesia, Singapore with IBS stakes

3 December, 2018 - 10:38
Broker Arthur J Gallagher has acquired a 40 percent equity stake in Indonesian insurance broker and risk management services provider PT IBS Insurance Broking Service, as well as 100 percent of reinsurance broker IBS Re Singapore.

California Woolsey fire insured losses exceed $2.5bn: AIR

3 December, 2018 - 10:21
Industry insured losses from the Woolsey fire in Southern California will be at least $2.5 billion, according to estimates by catastrophe risk modelling firm AIR Worldwide.

ArgoGlobal appoints international chief actuary from Aspen

3 December, 2018 - 10:19
Lloyd’s insurer ArgoGlobal, a part of Argo Group, has appointed Paul Lucas as chief actuary, international.

Sava Re upgraded to ‘A’ by AM Best

3 December, 2018 - 10:16
AM Best has upgraded the financial strength rating of Sava Re to “A” (Excellent) and its issuer credit rating to “a”, both with a stable outlook.

Bermuda insurers increase cat resilience

3 December, 2018 - 09:48
Bermuda insurers have lowered their net catastrophe exposure in 2017 compared to the previous year by about 2.0 percent, according to a Nov. 30 Catastrophe Risk in Bermuda report by the Bermuda Monetary Authority (BMA).

New digital Allianz Europe unit to serve as beacon, says CEO

30 November, 2018 - 18:03
The new digital player that Allianz is creating in Europe is set to serve as an example of what the existing agent-based units could achieve if they modernize processes, CEO Oliver Bäte said during a Nov. 30 press conference.

Integrand downgraded due to hurricane impact

30 November, 2018 - 10:26
AM Best has downgraded the Financial Strength Rating to B++ (Good) from A- (Excellent) and the Long-Term Issuer Credit Ratings to “bbb+” from “a-” of Puerto Rico-based Integrand Assurance Company while placing the Credit Ratings (ratings) under review with negative implications.

Sirius freed from ‘under review with negative implications’ by AM Best

30 November, 2018 - 09:35
AM Best has removed from “under review with negative implications” the rating of Sirius Bermuda Insurance Company, Sirius International Insurance Corporation and Sirius America Insurance Company as the Nasdaq listing of the group boosts the independence from its Chinese parent.

ILS issuance declines in Q2

30 November, 2018 - 09:31
Insurance-linked securities (ILS) issuance volume declined 26 percent year on year to $5.1 billion of new risk capital issued in the second quarter of 2018, according to the latest Bermuda Insurance-Linked Securities (ILS) Market Report.

Miller makes new hire for credit and political risks team

30 November, 2018 - 09:31
Re/insurance broker Miller has hired Laurence Guguen for its credit and political risks team to grow its structured trade and commodity finance capabilities.

Allianz reveals new SME leader following departure

30 November, 2018 - 09:30
UK-based Allianz Insurance, part of the Allianz Group, has appointed Helen Bryant to the role of director of SME (small and medium-sized businesses) and corporate partnerships.

WR Berkley appoints CEO, chairman for accident and health

30 November, 2018 - 09:30
US insurer WR Berkley has appointed Brad Nieland as president and CEO of Berkley Accident and Health.

Labuan Re outlook changed to ‘negative’ by AM Best

30 November, 2018 - 09:01
AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Labuan Reinsurance.

Lemonade prepares Europe launch

29 November, 2018 - 15:48
US-based Lemonade is coming to Europe – its first major market outside of the US, Daniel Schreiber, CEO and co-founder, announced in a November 29 blog.

'Catastrophic' bushfires, flash-floods hit Australia

29 November, 2018 - 15:46
Authorities have ordered more than 10,000 people to flee from “catastrophic” wildfires in north-east Australia while heavy rainfall in the south-east has caused flooding leaving at least two people dead, according to news reports.

Camp, Woolsey fires insured losses at up to $15bn: Moody’s

29 November, 2018 - 15:45
Moody’s estimates total insured losses from the Camp and Woolsey wildfires in California for property and casualty (P&C) re/insurers at $10-$15 billion.

Insurtech Element secures €23m new capital for international expansion

29 November, 2018 - 15:45
Berlin-based Element, a digital property/casualty insurer, has completed its Series A financing round with €23 million in new capital as it prepares to expand internationally next year.

RKH hires Asia marine cargo, hull leader from JLT Re

29 November, 2018 - 15:45
RKH Specialty, part of the Hyperion Insurance Group, has appointed Julian Franzman as head of marine cargo, hull and liabilities for Asia Pacific.

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